Madison, N.J.-based Quest Diagnostics signed definitive agreements to acquire two laboratory operations in Lewisville, Texas: Med Fusion and ClearPoint Diagnostic Laboratories, according to StreetInsider.com.
Once the transaction closes, Quest will become the preferred provider of advanced oncology diagnostics for The Woodlands, Texas-based The US Oncology Network, one of the five co-owners of the two laboratories.
Quest will also become the preferred provider for a full range of inpatient and outpatient diagnostic services for 12 hospitals within the Dallas-based Baylor Scott & White health system. BS&W is also one of the co-owners of the laboratory operations.
Officials expect to close the transaction within the third quarter of 2017, subject to customary regulatory approval.